Published on 6/1/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $7.55 million trigger step securities on index basket
By Wendy Van Sickle
Columbus, Ohio, June 1 – Barclays Bank plc priced $7.55 million of 0% trigger step securities due May 29, 2026 linked to an unequally weighted basket consisting of the Euro Stoxx 50 index (40% weight), the Nikkei 225 index (25% weight), FTSE 100 (17.5% weight), the Swiss Market index (10% weight) and the S&P/ASX 200 index (7.5% weight), according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 38.05%.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger step securities
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Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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Amount: | $7,549,780
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Maturity: | May 29, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is zero or positive, par plus greater of 38.05% and return; par if basket declines by up to 25%; 1% loss for each 1% decline if basket falls beyond 25%
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Initial level: | 4,031.67 for Euro Stoxx 50, 28,642.19 for Nikkei 225, 7,026.93 for FTSE 100, 11,348.74 for Swiss Market, 7,092.526 for S&P/ASX 200
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Downside threshold: | 75% of initial level
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Pricing date: | May 26
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Settlement date: | May 28
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 3.5%
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Cusip: | 06747T739
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